November 28, 2017 / 7:15 AM / 21 days ago

BRIEF-Aves One: Planned Streamlining Of Depot

Nov 28 (Reuters) - AVES ONE AG:

* SAID ON MONDAY HAS DECIDED TO MAKE USE OF POSITIVE PRICE TREND IN CONTAINER MARKET TO OPTIMISE THE PORTFOLIO

* THE PLAN IS TO SELL THE MAJORITY OF THE CURRENTLY UNRENTED CONTAINERS LOCATED IN HARBOURS WHERE DEMAND IS LOW

* SALE OF THESE CONTAINERS (APPROX. 7,000 UNITS) IS SCHEDULED TO BE CONCLUDED AT THE END OF THE FIRST QUARTER OF 2018

* OVERALL SALE INVOLVES A ONE-OFF SPECIAL WRITE-DOWN THIS YEAR WHICH IS EXPECTED TO AMOUNT TO APPROX EUR 4.0 MILLION

* NO FURTHER NEGATIVE EFFECTS ARE EXPECTED FROM THIS SALE IN 2018

* LIQUIDITY EXPECTED FROM THE TRANSACTION AMOUNTING TO APPROX EUR 6.5 MILLION CAN BE REINVESTED IN NEW CONTAINERS WHICH WILL HAVE ATTRACTIVE RENT CONTRACTS

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Further company coverage: (Gdynia Newsroom)

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